Vkc forex gurgaon
Essel Finance VKC Forex Limited is one of the leading RBI licensed Authorised Category — II Dealer AD-CAT II in India. Essel Finance VKC Forex provides wide range of Foreign Exchange solutions with emphasis on customer satisfaction. Essel Finance VKC Forex Limited offers a wide gamut of Forex products and services under one roof. We bring you hassle-free Currency Exchange services that are provided at competitive rates. Today, we are privileged to work with diversified clients in different industries and capabilities. With over 25 years of rich experience in the areas of Banking, Asset Management, Investment Banking, and Insurance, Mr. Chaturvedi has led several foremost financial companies of India such as Reliance Capital Ltd, ICICI Bank Ltd. As the Managing Director and CEO, he was instrumental in transforming Dhanlaxmi Bank in a short span of 3 years from a regionally focused bank with a business size of approximately Rs. Likewise, under his headship, Reliance Capital evolved into a diversified financial services conglomerate and assets under management at Reliance Mutual Fund grew from near Rs. He has a proven track record in leadership roles with leading private sector Banks, Corporates and MNCs executing business plans for startup initiatives, leading large business teams, backing business plan with execution through robust sales processes, leading cross functional teams. Previously he has worked with ANZ Grindlays, HSBC, ICICI Bank, Dhanalaxmi Bank. His last role was with SVC Bank where he was Head of Retail Banking and responsible for the entire retail business across branches. Rashmi Aggarwal has been associated with IMT Ghaziabad sincein the area of Economics, Environment and Policy as a Professor of Law. She is currently a Board member of Zee Media Corporation Ltd, Dish TV and Essel Finance VKC Forex Limited as an Independent Director. She is also on some of the Board Sub - Committees like Audit Committee; Nomination and Remuneration Committee, etc. She was the Chairperson- 2 years PDGM Program and core coordinator for the coveted AACSB accreditation at IMT Ghaziabad. She started her career as an advocate in the Punjab and Haryana High Court and Supreme Court of India before joining academics. Aggarwal research domains are predominately in the area of Corporate laws, Corporate vkc, Cybercrimes, Labour Laws and Intellectual Property Rights with number of reputed publications to her credit, including books, international research publications, book chapters, book reviews and case studies. Aggarwal has presented her research work in national and international conferences in India and abroad including USA, Japan, UK, Hong Kong, UAE and Italy. She has designed and delivered numerous executive training programmes both as a facilitator and Program Director for In-company and Open Company. Vibhu Agarwal is a Commerce Graduate from St. Agarwal is currently Managing Partner of MZ India Pvt Limited, Mumbai. Parekh is a qualified Chartered Accountant and Company Secretary. He has over 35 years of forex in the field of Finance, Taxation, Secretarial, Corporate Governance and Insurance matters. Currently, he is advising various corporate on Secretarial and Securities Laws, Financial restructuring, fund raising, cost control measures, taxation related issues, insurance matters etc. Prior to consulting, he was associated with large corporate houses including Aditya Birla Chemicals India Ltd, Jaiprakash Associates Ltd, Jokai India Ltd, Assambrook Ltd and U. Lines A US based shipping Company. With over 33 years of experience, Mr. Ramachandran is currently responsible for financial management of the company. Prior to joining Essel Finance VKC Forex Mr. Ramachandran was working with Ramco Systems Ltd. He holds a bachelors degree in Commerce from University of Madras and is an associate Member of Institute of Charted Accountants of India. Venkatasubramanian is an Ex-Officer from State Bank of India, India's premier Bank. He has over three decades of experience in the banking sector and has varied experience in areas of Foreign Exchange, Credit and Advances and Corporate Banking. He is the promoter director of the VKC Group and is currently the advisor to the company. Prior to joining Essel VKC, he was working with India Cements Limited as a Vice President. Mr Premnath holds a PGDBA from Loyola College, Chennai with graduation in commerce, he has also completed Inter ACS. Mr Nageswaran has over two decades of specialized experience in the area of Foreign Exchange. Mr Nageswaran is an Ex-Officer from the State Bank of India and was serving in Senior Management cadre, he is currently the consultant to the company. Essel Finance VKC Forex Sell and buy all major foreign currencies to and from customers as per the regulations prescribed by Reserve Bank of India. Essel Finance VKC Forex offers Foreign Exchange services for Leisure visit, Business visit, Education, Immigration, Medical Treatment etc. Essel Finance VKC Forex has tied up with HDFC Bank, Axis Bank and ICICI Bank for their Prepaid Travel Card solution. Essel Finance VKC Forex has a white labelled card with ICICI bank and has been co-branded along with Axis Bank and HDFC bank. These cards gurgaon available in various major currencies like US Dollar, Euro, British Pound, Australian Dollar, Swiss Franc etc. You can contact our branch representative nearest to know more about the product and purchase the same. Western Union and MoneyGram are global leaders in worldwide money transfer services which makes it a safe way to send money to India. Inward Money Transfer to India is a fast, simple and convenient method to transfer money from anywhere in the world. In India, a person can only receive money through this Inward Money Transfer service. This service operates as per the guidelines issued by Reserve Bank of India. An Authorised Dealer is any person specifically authorized by the Reserve Bank under Section 10 1 of FEMA,to deal in foreign exchange or foreign securities the list of ADs is available on www. Foreign exchange can be purchased from any authorised person, such as Authorised Dealer AD Category-I bank and AD Category II. Full-Fledged Money Changers FFMCs are also permitted to release exchange for business and private visits. Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD 2,50, per financial year April — March for any permissible current or capital account transaction or a combination of both. Further, resident individuals can avail of foreign exchange facility for the purposes mentioned in Para 1 of Schedule III of FEM CAT Amendment Ruleswithin the limit of USD 2,50, only. If an individual remits any amount under LRS in a financial year, then the applicable limit for such individual would be reduced from USDby the amount so remitted. The remittance facility under the Scheme is not available for the following:. Remittances under the facility can be consolidated in respect of close family members subject to the individual family members complying with the terms and conditions of the Scheme. Yes, it is mandatory to have PAN number to make remittances under the Scheme. However, PAN card need not be insisted upon for remittance made towards permissible current account transactions up to USD 25, There are no restrictions on the frequency of remittances under LRS. However, the total amount of foreign exchange purchased from or remitted through, all sources in India during a financial year should be within the cumulative limit of USD 2,50, Once a remittance is made for an amount up to USD 2,50, during the financial year, a resident individual would not be eligible to make any further remittances under this scheme, even if the proceeds of the investments have been brought back into the country. For private visits abroad, other than to Nepal and Bhutan, any resident can obtain foreign exchange up to an aggregate amount of USD 2,50, from an Authorised Dealer or FFMC, in any one financial year, irrespective of the number of visits undertaken during the year. This limit has been subsumed under the Liberalised Remittance Scheme w. If an individual has already remitted any amount under the Liberalised Remittance Scheme in a financial year, then the applicable limit for travelling purpose for such individual would be reduced from USDby the amount so remitted. A resident Indian is allowed to take INR of denomination of Rs. For denominations of Rs and Rs1, the limit is Rs 25, The tour operator can collect this amount either in INR or in FCY. Remittances exceeding the limit of USD 2,50, will require prior permission from the Reserve Bank. Any additional remittance in excess of the same shall require prior approval of the Reserve Bank of India. If an individual remits any amount under the Liberalised Remittance Scheme in a financial year, then the applicable limit for such individual would be reduced from USDby the amount so remitted. A person going abroad on emigration can draw foreign exchange from AD Category I bank and AD Category II up to the amount prescribed by the country of emigration or USDThis amount is only to meet the incidental expenses in the country of emigration. Further, this remittance is not for undertaking any capital account transactions such as overseas investment in government bonds; land; commercial enterprise; etc. No amount of foreign exchange can be remitted outside India to become eligible or for earning points or credits for immigration. Visits in connection with attending of an international conference, seminar, specialised training, apprentice training, etc. Release of foreign exchange exceeding USD 2,50, for business travel abroad, irrespective of the period of stay, by residents require forex permission from the Reserve Bank. However, if an employee is being deputed by a company and the expenses are borne by the company, then such expenses shall be treated as residual current account transactions and may be permitted by the AD bank, without vkc limit, subject to verifying the bonafides of the transaction. Exceptions to this are a travellers proceeding to Iraq and Libya who can draw foreign exchange in the form of foreign currency notes and coins not exceeding USD or its equivalent per visit; gurgaon travellers proceeding to the Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States who can draw entire foreign exchange up-to USDin the form of foreign currency notes or coins. A resident of India, who has gone out of India on a temporary visit may bring into India at the time of his return from any place outside India other than Nepal and Bhutancurrency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs. A person may bring into India from Nepal or Bhutan, currency notes of Government of India and Reserve Bank of India notes, in denomination not exceeding Rs. Any person resident outside India, not being a citizen of Pakistan and Bangladesh and also not a traveller coming from and going to Pakistan and Bangladesh, and visiting India may bring into India currency notes of Government of India and Reserve Bank of India notes up to an amount not exceeding Rs. A person coming into India from abroad can bring with him foreign exchange without any limit. Permissible foreign exchange can be drawn 60 days in advance. In case it is not possible to use the foreign exchange within the period of 60 days, it should be immediately surrendered to an authorised person. However, residents are free to retain foreign exchange up to USD 2, in the form of foreign currency notes or TCs for future use or credit to their Resident Foreign Currency Domestic [RFC Domestic ] Accounts. Foreign exchange for travel abroad can be purchased from an authorized person against rupee payment in cash below Rs. On return from a foreign trip, travellers are required to surrender unspent foreign exchange held in the form of currency notes and travellers cheques within days of return. However, they are free to retain foreign exchange up to USD 2, in the form of foreign currency notes or TCs for future use or credit to their Resident Foreign Currency Domestic [RFC Domestic ] Accounts. Dance troupes, artistes, etc. Our Group Our People Our Culture. NBFC Investment Banking Private Equity Distribution Forex. Life At Essel Finance. Amitabh Chaturvedi MD — Essel Finance. Rashmi Aggarwal Independent Forex. Vibhu Agarwal Independent Director. Mahendra Parekh Independent Director. Ramachandran K Chief Financial Officer. Foreign Currency Essel Finance VKC Forex Sell and buy all major foreign currencies to and from customers as per the regulations prescribed by Reserve Bank of India. Essel Finance VKC Forex was among the regular recipient of American Express Summit Award which is given in recognition towards outstanding sale of American Express Travellers Cheques. You can purchase and encash your Travellers Cheques on return at any of our branches nearest to you. Some of the Key features of availing Travellers Cheques are as follows: Contact local police to lodge FIR for lost TC's within 24 hours. Contact the call center and inform them within 24 hours using toll free number given at the back PAF Purchase Agreement Form. Summary of advantages of carrying Prepaid Forex Travel Card is as follows: As an RBI Authorised Dealer AD — Cat IIEssel Finance VKC Forex can undertake the following activities subject to RBI limits and regulations: Private Visits Business Travel Overseas Education. Remittance under educational tie up arrangements with universities abroad. Remittance towards fees for examinations held in India and abroad and additional score sheets for GRE, TOEFL etc. Employment and processing, assessment fees for overseas job applications. Emigration and Emigration Consultancy fees. Processing fees for registration of documents as required by other Governments. Who is an Authorized Dealer? Who are authorized by the Reserve Bank to sell foreign exchange for travel purposes? What is the Liberalised Remittance Scheme LRS of USD 2,50,? What are the prohibited items under the Scheme? The remittance facility under the Scheme is not available for the following: Can remittances under the LRS facility be consolidated in respect of family members? Can an individual, who has availed of a loan abroad while as a non-resident Indian repay the same on return to India, under this Scheme as a resident? Yes, this is permissible. Is it mandatory for resident individuals to have PAN number for sending outward remittances under the Scheme? Are there any restrictions on the frequency of the remittance? How much foreign exchange can one buy when traveling abroad on private visits to a country outside India? How much foreign exchange is available to a person going abroad on employment? How much foreign exchange is available to a person going abroad on emigration? How much foreign exchange can a person resident in India remit towards maintenance of close relatives abroad? How much foreign exchange is available for a business trip? How much foreign exchange can be drawn for medical treatment abroad? How much foreign currency can be carried in cash for travel abroad? How much Indian currency can be brought in gurgaon coming into India? How much foreign exchange can be brought in while visiting India? How many days in advance one can buy foreign exchange for travel abroad? Can one pay by cash full rupee equivalent of foreign exchange being purchased for travel abroad? Is there any time-frame for a traveller who has returned to India to surrender foreign exchange? Should foreign coins be surrendered to an Authorised Dealer on return from abroad? The residents can hold foreign coins without any limit. Is there any category of visit which requires prior approval from the Reserve Bank or the Government of India? The Standard Terms set out herein shall, if the Foreign Exchange Transaction Agreement so provides, be applicable to the Customer. If there is any inconsistency between the Terms and the Foreign Exchange Transaction Agreement, the Foreign Exchange Transaction Agreement will prevail. II and having its registered office at Jeyam Kondar ApartmentsNo. Essel VKC shall provide and perform: Each Party shall take necessary measures and precautions to safeguard all Confidential Information in their possession and to prevent unauthorized disclosure thereof by any of its employees, agents, or representatives. In particular, such Confidential Information shall not be used for the benefit, financial or otherwise by any Party, its employees, without prior written approval from the disclosing Party. However, such obligation shall not cover Confidential Information a. The Parties shall, and shall cause their respective employees to, hold all Confidential Information in the strictest of vkc at all times, making no use thereof other than in connection with the performance of their obligations under this Agreement. Neither Party shall, without the prior written approval of the other Party: The Parties shall en sure that their employees are made aware, prior to the disclosure of such Confidential Information, of the confidential nature thereof and that they owe a duty of confidentiality to the Party disclosing Confidential Information. In the event that any of t he Parties hereto becomes legally compelled to disclose any Confidential Information, such Party shall give sufficient notice to the other Party to enable the other Party to prevent or minimize to the extent possible, such disclosure. The Party which recei ved the Confidential Information will fully co - operate with disclosing Party in connection with its efforts to obtain any such order or other remedy. If any such legal requirement does not allow giving the notice referred to above, the Party receiving the Confidential Information will make such disclosure only to the extent that such disclosure is legally required and will use its best efforts to have confidential treatment accorded to the disclosed Confidential Information. The obligation to maintain conf identiality of the Confidential Information shall survive the expiry or termination of this Agreement. Design rights, copyrights and all or any similar or equivalent rights arising or subsisting in any country in the world shall be owned by such party and all or any part thereof shall belong to such party absolutely. The Partie s hereto represent and warrant to each other that: Each of the Parties is duly formed and validly existing under the respective laws that they are subject to with full power and authority to conduct the business as contemplated in this Agreement. Each Pa rty has full power, capacity and authority to execute, deliver and perform this Agreement and has taken all necessary action corporate, statutory or otherwise to authorize the execution, delivery and performance of this Agreement. This Agreement and any other agreement executed in connection herewith, if any, have been duly executed and delivered by each Party and constitute legal, valid and binding obligations of such Party, enforceable against the other Party in accordance with the terms of this Agreem ent. Each of the representations and warranties set out above are and shall remain true and accurate in all respects at the execution hereof in respect of each Party and that all documents provided to the Parties by each such other Party as required by th is Agreement or otherwise, are true and accurate in all respects and fully, and accurately disclose every matter to which they relate. Each of the representations and warranties, given above is without prejudice to any other warranty or undertaking and ex cept where expressly stated no clause contained in the Agreement governs or limits the extent or application of any other clause in any other agreement. All of the representations and warranties made under this Clause shall survive the execution and deliv ery of this Agreement and none of the Parties shall take action nor permit action to be taken which would cause any of such representations or warranties to be no longer true or correct in all respects. Essel VKC represents and warrants that it has obtained all the authorizations, approvals, licenses to operate and provide foreign exchange services and to fulfill all its obligations under this agreement and it shall maintain the same during the tenure of this Agreement. Any claims arising out of non - compliance of any legislation in force relating to foreign exchange services provided under this Agreement would be the sole responsibility of Essel VKC and Customer will be in no way held responsible for any such claims arising thereof. The employees of Essel VKC shall continue to be the employees of Essel VKC and work under its directions and shall not become or claim any employment from Customer virtue of providing the Services, irrespective of the location of their work. Detailed list of staff who would be Authorised to place request for foreign exchange to be furnished. Copy of Company Pan Card. And such other documents as notified by the RBI from time to time. Customer shall ensure that the execution, delivery and performance of this Agreement by it in accordance with its terms shall not: Notwithstanding anything contained in the Foreign Exchange Transaction Agreement or in other document: Notwithstanding anything to the contrary elsewhere contained in this or any other contract between the parties, neither party shall, in any event, be liable for any indirect or speculative or consequential or penal damages, including but not limited to, any loss of use and loss of income or profits, irrespective of whether it had an advance notice of the possibility of any such damages. The attempt to bring about an amicable settlement shall be considered to have failed if not resolved within 60 days from the date of the Dispute. If the disputing Parties are unable to amicably settle the Dispute in accordance as per above Clause 1 within the period specified therein, any disputing Party shall be entitled to serve a notice invoking this Clause and making a reference to a panel of three 3 arbitrators. For this purpose, each disputing Party shall appoint one arbitrator each and the arbitrators so appointed shall appoint another arbitrator who shall be the presiding arbitrator. The Arbitration proceedings shall be held in accordance with the Arbitration and Conciliation Act, The place of the arbitration shall be place of business. The proceedings of arbitration shall be in the English language. Each Party to the Dispute shall bear its own costs, in relation to the arbitration proceedings and the Parties shall equally share the costs of arbitration. Subject to Clause 2 of this Settlement of Disputes Clause hereinabove, the Courts of Chennai alone shall have jurisdiction in all matters arising out of the arbitration proceedings or this Agreement. This Agreement shall be governed by and construed in accordance with the Law of India and Chennai Courts shall have exclusive jurisdiction. The Party claiming an event of force majeure shall promptly notify the other Parties in writing, and provide full particulars of the cause or event and the date of first occurrence thereof, as soon as possible after the event and also keep the other Parties informed of any further developments. The Party so affected shall use its best efforts to remove the cause of non-performance, and the Parties shall resume performance hereunder with the utmost dispatch when such cause is removed. Waiver by either Party of any default by the other Party shall not be deemed a waiver of any other default. No waiver of rights hereunder shall be effective unless in writing and signed by or on behalf of the Party granting the waiver. Essel VKC and Customer are independent contractors and this Agreement shall not establish any service arrangement, relationship of partnership, joint venture, employment, franchise or agency between Essel VKC and Customer. This Agreement and the rights and liabilities hereunder shall bind and inure to the benefit of the respective successors of the Parties hereto, but no Party hereto shall assign or transfer any of its rights and liabilities hereunder to any other person except for affiliates without the prior written consent of the other Party. Either Party may terminate the Foreign Exchange Transaction Agreement by providing one 1 months prior written notice. If any provision of this Agreement or the application thereof to any person or circumstance shall be invalid or unenforceable to any extent, the remainder of this Agreement and the app lication of such provision to persons or circumstances other than those as to which it is held invalid or unenforceable shall not be affected thereby, and each provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. Any invalid or unenforceable provision of this Agreement shall be replaced with a provision, which is valid and enforceable and most nearly reflects the original intent of the unenforceable provision. This Agreement, including all documents incorporated herein by reference, constitutes the complete and exclusive agreement between the Parties with respect to the subject matter hereof, and supersedes and replaces any and all prior or contemporaneous discussions, negotiations, understandings and Agreements, written and oral, regarding such subject matter. This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which together shall constitute one and the same instrument. This Agreement may not be altered, modified or amended unless such alteration, modification or amendment is evidenced in writing and signed by the Parties. The persons signing this Agreement on behalf of the Parties represent and covenant that they have the authority to so sign and execute this document on behalf of the Parties for whom they are signing. This Agreement shall be a non-exclusive agreement between the parties. Either party shall be entitled to enter in to similar kind of arrangements with third parties. All notices required or permitted under this Agreement shall be in writing and shall be delivered personally, sent by registered post or sent by facsimile transmission and promptly confirmed by registered post to the addresses as follows: If the not ice is sent by facsimile, then it will be deemed given upon completion of transmission, unless it is transmitted after 4pm or not on a Business Day, in which case, it will be deemed given on the next business day. In matters of urgency, email notification shall suffice, when followed up by written notice. No Caption View 1 Master Direction - Money Changing Activities view 2 Master Direction - KYC view 3 Master Direction on Misc Remittances. Facilities available for Residents view 4 Withdrawal of Legal Tender Rs. Designed and Developed by C-MOTS Infotech ISO Select Service NBFC Investment Banking Private Equity Distribution Forex. Select Product SME Mortgage Finance SME Business Expansion Loans SME Equipment Finance Loans SME Receivable Finance. Select Nearest Essel VKC Branch Chennai - Anna Nagar Chennai - Parrys Chennai - Teynampet Chennai - Mahindra City Chennai - Nanganallur Chennai - Shollinganallur Coimbatore Tirupur Madurai Trichy Salem Pondicherry Secunderabad Madhapur Tirupathi Cochin Trivandrum Technopark Bangalore Bangalore - Whitefield Bangalore - Electronic City Mysore Kolkata Kolkata - Salt Lake Bhubaneshwar Ludhiana Chandigarh Jalandhar Noida Delhi West Gurgaon Kanpur Varanasi Khajuraho City Jaipur Mumbai - Thane Mumbai - Andheri Bangalore - Hyper City Mumbai — Kurla Mumbai — Fort Mumbai - Vashi Goa — Panaji Goa - Margoa Pune Pune — Hinjewadi Ahmedabad Baroda Surat Delhi Delhi — South Visakhapatnam Patna. Select Product Foreign Currency Travellers Cheques Prepaid Forex Card Overseas Remittance. Buy Sell TT DD. GOVERNING LAW This Agreement shall be governed by and construed in accordance with the Law of India and Chennai Courts shall have exclusive jurisdiction. WAIVERS Waiver by either Party of any default by the other Party shall not be deemed a waiver of any other default. ENTIRE AGREEMENT This Agreement, including all documents incorporated herein by reference, constitutes the complete and exclusive agreement between the Parties with respect to the subject matter hereof, and supersedes and replaces any and all prior or contemporaneous discussions, negotiations, understandings and Agreements, written and oral, regarding such subject matter. AMENDMENT This Agreement may not be altered, modified or amended unless such alteration, modification or amendment is evidenced in writing and signed by the Parties. NON EXCLUSIVE AGREEMENT This Agreement shall be a non-exclusive agreement between the parties. NOTICES All notices required or permitted under this Agreement shall be in writing and shall be delivered personally, sent by registered post or sent by facsimile transmission and promptly confirmed by registered post to the addresses as follows: Master Direction - Money Changing Activities. Master Direction on Misc Remittances. Facilities available for Residents. Withdrawal of Legal Tender Rs. Master Direction - Liberalised Remittance Scheme LRS. Master Direction Money Changing Activities update Master Direction Memorandum of Instructions governing Money Changing Activties.
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